Polaris solar PV net news: Suri and that the sky solar solar energy are having an affair in the United States market. PV solar power companies flooded the terminal building, the return on investment is not stable, overinvestment worry never went away.
China’s solar companies are flocking to NASDAQ.
Had Suri were forced to show up in the default case and famed sky solar Holdings Limited (hereinafter referred to as Sky solar), and nothing else, which will be landing on November 7 United States NASDAQ. Earlier, another Chinese subsidiary of LDK LDK Solar company SPI also allegedly planned NASDAQ listing.
According to Sky solar holdings (SKYS) October 22 update their prospectuses, sky solar IPO plan to cost $ 10-$ 12 per issue 12.5 million United States depository shares (ADS), the maximum raise $ 172.5 million.
Sky solar was founded just five years since have relocated its headquarters to Hong Kong, the PV industry in China is a “character” junior, is one away from the front-end manufacturing of solar PV industry chain enterprises. Aimed at global development and operation of solar power plants, by selling his family’s company, PV giant clusters of China is negligible. Much market attention “Suri default case”, dragged out behind chaori solar energy’s fourth-largest shareholder and its largest shareholder – Tin Wah International (Sky International Enterprise Group), both Su Weili control, this positioning terminal of the PV industry and construction from the early of the founding of the “underachievers” is not well known to the industry.
Jiangsu, a US-listed PV analysis of Corporate Executive told Xinhua in an interview, sky solar chose this time listed, apparently designed to take full advantage of low-cost expansion of polysilicon industry adjustment opportunities. Polysilicon prices from the highest more than $ 400/kg had fallen to around $ 20/kg, component costs drop significantly. Construction costs continue to fall for the cheap Internet access, the terminal station of the photovoltaic industry has created a very good time. Currently looking for power resources, require work with Terminal developers stream of photovoltaic manufacturer, is the legend of the Xu jiayin, evergrande and Chinese business businessman Shi Yuzhu began to plunge into the Sun can cause.
Sky solar founder Su Weili is a legend of China PV industry cannot be ignored. Graduated from Hebei University law 22 years ago, Su Weili, after seven or eight years in lower courts began to get involved in areas of green electricity in 2001, succeeded in inducing tianwei baobian strategic stakes Yingli new energy, and as an important third-party shareholder co-founded “Yingli solar.” Su Weili Baoding tianwei Yingli new energy as Director, Secretary of the Board, Vice President, Director of the Beijing Office and other staff.
Tian hua, Chairman Su Weili
Four years Hou earned first barrels gold of Su Weili forks, founded has days China Sun Group predecessor–may is judge of experience let he more caution, Su Weili select has relative sound of field–light assets of station operations, began in Europe day main national for green electric station voted financing and development work, is more early entered European green electric terminal market, and has full network of Chinese background enterprise.
Su Weili’s character is also reflected in the choice of capital on the background. He doesn’t like photovoltaic industrial capital into equity, but loved PE. IDG capital and accelerate partnership (AccelPartners) jointly established IDG-Accel China Fund listed on the driving sky solar power cannot be overlooked.
Sky solar prospectus shows shares held sky solar 24.2% IDG-Accel, after the IPO is completed, the latter held notes to be converted into common stock at 1.5 cents per share price, its stake will be reduced to a 18.7%.
In addition to being questioned by the media and customers chaori solar energy “is a bit ambiguous”, the sky solar’s main partners are Juli group, arts shares, tianwei group and many other enterprises. But do not hold shares in the sky solar.
Capital discourse. Su Weili had previously said publicly that do not accept any stake in sky solar photovoltaic manufacturing companies, he hoped that the integration of industry chain resources, rather than integrating the industry chains, to maintain its independence.
One source told reporters that the PV industry in recent years by domestic banks into “black list”, the financing difficulty, while sky solar energy can introduce many consortia, previously served as CFO and COO, global Deloitte China Suntech solar PV before bigwigs CFO Zhang, is a key figure.
Since 2010, the sky solar has conducted several rounds of private financing. The IDG group, Jiangsu jinmao agencies raised $ 54 million in 2012, IDG-Accel China’s Fund bought sky solar to sell $ 5 million of the convertible’s acceptance in 2013, IDG-ACCEL received $ 5.9 million convertible acceptances replaced the earlier release notes.
The Executive considers that, due to the solar power industry building suddenly increased return of PV power plant investment in China is not stable, overinvestment worries came too.
In 2013, almost all Suri Ni Kailu chaori solar energy founder equity mortgage trust are of delaying payments, into bankruptcy. In addition, the end of 2013, sky solar as their major customers of the Group and one of the largest customers of the accounts receivable, the two reached an agreement, claims former sky solar holdings over to a natural person. Sky solar group staged a joint-venture company, owed the perfect exit for transfers to enact. Today, the sky solar market just around the corner.
It should be noted that in April 2014, chaori solar energy policy came into force for two 2010 volunteered to forgo claims applications for CITIC, which policies agreed insured amounts 200 million dollars and 140 million dollars, respectively. Super Japanese Sun abandon claims or and Tianhua listed on sunshine. Once the claim formalities, CITIC will be traced between the two accounts, but the claim has not been confirmed.
Today, the intimate partner Fortune made all the difference: former chaori solar energy has changed, in GCL pushed into restructuring; sky solar is in a happy moment of the night in the United States.
Original title: China PV companies flocking to NASDAQ